As the market changes, how can Realtors use creative lending to grow their business?
Winston Churchill once reportedly stated, “Never let a good crisis go to waste.” These words have never been more important than in today’s real estate market. As all highly successful realtors know, great challenges can present amazing opportunities. As the market continues to change, so does the industry’s need to discover creative strategies. With a problem-solving mindset, real estate professionals can use creative, unconventional and alternative lending options to grow their business.
Anxious, skeptical buyers may feel overwhelmed as they attempt to navigate what is likely the biggest financial transaction in their lives. Therefore, the way to build trust and win business is through empowerment. As a trusted real estate advisor, you can help steer them through the process via a partnership with a financial advisor who can optimize your clients’ loans, help your buyers build wealth through their real estate, and establish lifetime relationships and referrals for you.
The real estate market has experienced drastic changes recently, and the mortgage industry is constantly evolving also. To be a thriving real estate professional today, requires unique loan programs for a multitude of complex loan scenarios. In this highly-competitive and challenging time, the way to be exceptional is to know your lender and the loan products they can offer.
The median price of homes sold in 2022 is $428,700 according to Federal Reserve Economic Data. However, if your buyers are looking at a house in a higher-cost real estate market or wanting to purchase a luxury home, they may need a jumbo loan. Alternatively, your clients may want to use some of their equity to purchase a second home or need a short-term bridge loan to allow them to purchase a bigger, move-up property by using collateral in the home they currently own.
Additionally, many potential homeowners and prospective real estate investors are finding that they may not be entirely qualified for the standard, traditional mortgage formulas due to factors such as income, credit, or other requirements. Non-QM mortgages (non-qualified mortgages) can make it possible to qualify using more flexible methods of demonstrating reliability as a borrower.
We believe that you deserve the same outstanding service that you provide to your buyers. With 17 years of experience in the home lending business, 1 Stop Lending’s professionalism, expertise and attention to detail is what separates us from the competition. We offer unsurpassed customer service, keeping you informed throughout the process, and have the leading-edge technology to keep your buyers’ loans moving swiftly.
If you are interested in learning more, we are just one phone call, text or email away from answering any questions you have. Please visit https://1stoplending.net for more.